November 16, 2004

Dr Timothy Gay, University of Nebraska experimental atomic physicist, is weekend student of football physics; describes physics of three body collision during Nebraska football game and compares hit with atom-molecule collisions; other findings discussed; photo; drawing (L)

Gov George E Pataki vetoes bill that would have overhauled New York State's dysfunctional budget process; says bill, which many lawmakers described as their chief achievement in 2004, would make flawed process even worse; it is unclear whether Legislature will override Pataki's veto, though budget bill passed both houses unanimously (M)h

Graffiti has been buffed from official record as New York City celebrates subway's centennial; few mentions of it are references to it as plague that epitomized chaotic and decrepit city; Marcoart Gallery on Lower East Side and Showroom NYC in East Village have mounted graffiti exhibitions to commemorate era; Christopher Ellis, who used to paint on subway cars, says it was gesture of defiance at time when entire blocks in South Bronx had been obliterated; he and partner, John Matos, sell their work to serious collectors for as much as $25,000; photos of Ellis and Lee Quinones, another former graffiti artist who has studio in Brooklyn (M)

Investigations into sale of insurance that can smooth out volatile earnings have widened significantly, as Ace Ltd, Bermuda insurer with extensive operations in US, says it has received subpoenas from Securities and Exchange Commission and New York State Atty Gen Eliot Spitzer's office; at issue are financial contracts, called finite or loss-mitigation insurance, that have been widely used for at least decade; under these contracts, companies pay premiums, and file claims for payment when earnings fall beyond predetermined range; insurance payments are recorded as income, and mitigate or reduce reported losses; analyst says premiums for Ace's loss-mitigation products exceeded $800 million in 2002, but have since declined sharply (M)

Profile of acting New Jersey Gov Richard J Codey notes that he will remain Senate president and has not ruled out seeking nomination to run for governor in Nov 2005; holds that Codey, Democrat on outs with some of most powerful behind-the-scenes figures in his own party, is popular among legislators of all stripes (M)